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Average Mutuel - What Does It Mean?

(Anon)

A $9.62 average mutuel is the same as odds of3.81 to 1
Or
Average mutuel of $7

What do these things mean in plain English, mutuel or average mutuel I don’t get it???

Can you explain

Answer: Absolutely! In horse racing betting, understanding "mutuel" and "average mutuel" is key to figuring out your potential winnings. Here's a breakdown in plain English:

**Mutuel:** This refers to a betting system where bettors wager against each other, not against the house.
All the money wagered on a specific type of bet (e.g., win bets on a particular horse) goes into a pool. After the race, the pool is divided amongst the winning bettors based on their proportion of the total pool.

**Average Mutuel:** This represents the average payout per dollar bet on a specific horse. So, a $9.62 average mutuel means for every $1 you bet on that horse and wins, you'll receive an average return of $9.62.

**Comparing Mutuel to Odds:**

3.81 to 1 odds: This is a more traditional way of expressing betting odds. It means for every $1 you bet, you'll win $3.81 if your horse wins, plus your original $1 back.
So, a $10 bet at 3.81 to 1 odds would return $48.10 - $10 bet = $38.10 in profit.

$7 Average Mutuel: This is essentially the same payout as 3.81 to 1 odds! To see this, think of a scenario where 100 people bet $1 each on the horse, for a total pool of $100.

If the horse wins, the $100 pool is divided among the 100 winning bettors. Each bettor receives $1 (their original bet) back, plus an additional $0.62 ($100 total pool - $100 original bets = $0 remaining to take out for the track / 100 winners = $0.62 per winner).

This is very close to the $3.81 profit you'd get from a $1 bet at 3.81 to 1 odds.

So, are they the same?

In this specific case, the $9.62 average mutuel and 3.81 to 1 odds represent roughly the same potential payout. However, it's important to remember:

Mutuel odds fluctuate in real-time based on how much money is being bet on each horse. So, the $9.62 average mutuel could change before the race starts.

Odds formats can vary depending on the racetrack and country. Knowing how to convert between them helps you compare potential payouts across different platforms.

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